RTT - Forex Top Story
Morgan Stanley Warns Bitcoin Unfolding 15 Times Faster Than Nasdaq's 2000 Crash
Tue, 20 Mar 2018 14:34:45 GMT
Bitcoin is unwinding in a similar fashion to the Nasdaq during the dotcom bubble nearly two decades ago, but the pace is 15 times faster, global investment firm Morgan Stanley said. The firm's strategist Sheena Shah said in a client note that the Nasdaq in 2000 and Bitcoin now, both rallied 250 to 280 percent during their peaks ahead of a market downturn.
German Economic Sentiment Weakens To 18-Month Low
Tue, 20 Mar 2018 12:31:40 GMT
Germany's economic confidence deteriorated sharply to a one-and-a-half-year low in March on fears of US led trade conflicts, survey data from the Mannheim-based think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment dropped more-than-expected to 5.1 in March from 17.8 in February. This was the lowest score since September 2016 and well below the expected level of 13.0.
Sierra Leone Denies Blockchain Use In Recent Election
Tue, 20 Mar 2018 12:20:33 GMT
West African country Sierra Leone's National Electoral Commission said that blockchain technology was never used in the recently concluded presidential election. Citing its Chair Mohamed Conteh, the NEC said on Twitter that it has not used, and is not using blockchain technology in any part of the electoral process.
UK Inflation Eases More Than Forecast
Tue, 20 Mar 2018 12:20:06 GMT
UK inflation eased more-than-expected to a 7-month low in February, as the effects from the deterioration in pound after the Brexit vote fades. Consumer price inflation slowed more-than-expected to 2.7 percent from 3 percent in January, figures from the Office for National Statistics revealed Tuesday. This was the weakest figure since last July, when prices rose 2.6 percent. Economists had fore
U.S. Bans 'Petro' Trade; Imposes Fresh Sanctions On Venezuela
Tue, 20 Mar 2018 12:13:21 GMT
The U.S. Government has banned Americans from purchasing or dealing with any cryptocurrency issued by Venezuela, and imposed a fresh round of sanctions targeting Venezuelan government associates. An executive order signed by President Donald Trump Monday makes it illegal for the U.S. citizens and entities to engage in financial transactions involving Petro, the digital currency of Venezuela.
Cryptocurrency Daily Roundup - Mar. 20
Tue, 20 Mar 2018 11:53:07 GMT
Bitcoin's unfolding is mirroring the crash of the Nasdaq during the dot-com bubble, but the cryptocurrency's pace is 15 times faster. Social media outlet Twitter may also be planning to block cryptocurrency related advertisements, while a leading payment processing company has said it is open to working with central bank-backed digital currencies. And the Bitcoin price has moved up further.
New York Hotel To Sell Ownership Via $400 Mln ICO, Kevin O'Leary Says
Tue, 20 Mar 2018 09:53:54 GMT
Kevin O'Leary, investor and "Shark Tank" television show participant, announced that he is part of a deal in which a "prestigious" hotel in New York is selling ownership in the company through a token sale. He predicts that asset-based coins will someday replace small-cap stocks.
European Economics Preview: UK Inflation Data Due
Tue, 20 Mar 2018 05:11:02 GMT
Inflation from the UK and economic sentiment from Germany are due on Tuesday, headlining a busy day for the European economic news. At 2.45 am ET, the State Secretariat for Economic Affairs releases Swiss quarterly economic forecast. At 3.00 am ET, Destatis is slated to issue Germany's producer prices for February.
RBA Minutes: Global Economy Continues To See Steady Improvement
Tue, 20 Mar 2018 01:46:45 GMT
Members of the Reserve Bank of Australia's monetary policy board said that the global economy is experiencing acceptable overall improvement, minutes from the board's March 6 meeting revealed on Tuesday.
Australia Q4 House Prices Advance 1.0%
Tue, 20 Mar 2018 01:31:45 GMT
House prices in Australia climbed 1.0 percent on quarter in the fourth quarter of 2017, the Australian Bureau of Statistics said on Tuesday.
PBoC's Vice Governor Nominated As New Chief
Mon, 19 Mar 2018 12:09:03 GMT
China's legislature on Monday nominated Yi Gang, vice-governor of the People's Bank of China, as its new chief. Yi will replace Zhou Xiaochuan, who has been at the helm of the PBoC for 15 years. Zhou has headed the central bank during the turbulent period of the global financial crisis. At the annual session of the 13th National People's Congress, delegates voted to appoint Yi as PBoC governor.
Cryptocurrency Daily Roundup - Mar. 19
Mon, 19 Mar 2018 10:57:28 GMT
Cryptocurrency prices rebounded at the start of the week as sentiment improved after the G20 signaled that is it not planning to regulate cryptocurrencies for now as they do not pose considerable risk to financial stability. Separately, a central banker also expressed concern that regulation of cryptocurrencies must not stifle innovation.
BCC Raises UK Growth Forecast On Spending
Mon, 19 Mar 2018 06:50:23 GMT
The British Chambers of Commerce raised its growth projections for both this year and next citing strong consumer spending driven by a pick-up in pay growth. The UK economy is forecast to grow 1.4 percent this year instead of 1.1 percent projected earlier. The outlook for 2019 was lifted to 1.5 percent from 1.3 percent. The lobby forecast 1.6 percent expansion for 2020.
Singapore CB Chief Says Cryptocurrency Regulation Must Not Stifle Innovation
Fri, 16 Mar 2018 14:43:00 GMT
Central banks and regulators are finding it a challenge to regulate cryptocurrencies, but they must be careful that innovation is not stifled in their eagerness to rein in these new tokens, Monetary Authority of Singapore Managing Director Ravi Menon said.
Deep Fall In Bitcoin Trade In India Over Regulatory Concerns
Fri, 16 Mar 2018 14:26:22 GMT
Cryptocurrency exchanges in India have witnessed a deep fall in trading on bitcoin this year, a new report says. India's prominent finance daily, the Economic Times, reported the gloomy picture of the country's cryptocurrency market Friday, quoting Mohit Kalra, Chief Executive of bitcoin exchange Coinsecure. He says the volume of trade across all crypto exchanges in India has reduced.
U.S. Consumer Sentiment Unexpectedly Improves In March
Fri, 16 Mar 2018 14:23:29 GMT
A preliminary report released by the University of Michigan on Friday showed an unexpected improvement in U.S. consumer sentiment in the month of March. The preliminary reading on the consumer sentiment index for March came in at 102.0, up from the final February reading of 99.7.
U.S. Industrial Production Jumps More Than Expected In February
Fri, 16 Mar 2018 13:39:33 GMT
After reporting a modest decrease in U.S. industrial production in the previous month, the Federal Reserve released a report on Friday showing a substantial rebound in production in the month of February. The Fed said industrial production surged up by 1.1 percent.
U.S. Housing Starts Pull Back More Than Expected In February
Fri, 16 Mar 2018 13:33:50 GMT
New residential construction in the U.S. showed a sharp pullback in the month of February, according to a report released by the Commerce Department on Friday. The report said housing starts plunged by 7.0 percent to an annual rate of 1.236 million in February.
Cryptocurrency Daily Roundup - Mar. 16
Fri, 16 Mar 2018 13:12:46 GMT
Finance ministers and central bank governors from across the world are heading to the Argentine capital Buenos Aires this weekend to discuss their main concerns regarding the financial system and cryptocurrency regulation is set to be on top of the agenda. Elsewhere, cryptocurrency mining is apparently under attack from several sides as miners are set to face higher electricity charges.
New York Slaps Higher Electricity Rates On Cryptocurrency Mining
Fri, 16 Mar 2018 12:19:22 GMT
Cryptocurrency mining in upstate New York is going to be expensive as authorities are now allowed to charge higher electricity rates on such businesses, so as to avoid raising costs for other customers. The New York State Public Service Commission Thursday ruled that upstate municipal power authorities could charge higher electricity rates to cryptocurrency mining companies.
G20 Ministers, Central Bank Governors To Discuss Cryptocurrency Regulation
Fri, 16 Mar 2018 11:56:51 GMT
The Group of Twenty (G20) finance ministers and central bank governors are set to discuss next week an international regulatory framework to bring cross-border Cryptocurrency operations under unified control. The meeting in Argentine capital Buenos Aires will focus on the policies needed to protect the global economic upswing against downside risks, and to finalize much-needed reforms.
U.S. Homebuilder Confidence Shows Modest Decrease In March
Thu, 15 Mar 2018 14:32:56 GMT
Homebuilder confidence in the U.S. saw a modest decrease in the month of March, according to a report released by the National Association of Home Builders on Thursday. The report said the NAHB/Wells Fargo Housing Market Index edged down to 70 in March from a revised 71 in February.
India's HDFC Bank Bans Cryptocurrency Transactions Using Cards
Thu, 15 Mar 2018 14:12:21 GMT
India's HDFC Bank has banned the transaction of cryptocurrency using its debit or credit cards. The second largest private sector lender in India informed the decision in an e-mail sent to all its cardholders citing concerns expressed by the Reserve Bank over the risks of virtual currencies. "You may be aware of the increasing global apprehensions regarding bitcoin, cryptocurrencies."
Philly Fed Index Indicates Slower Growth In March
Thu, 15 Mar 2018 13:59:59 GMT
Growth in the Philadelphia manufacturing sector slowed in the month of March, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity fell to 22.3 in March from 25.8 in February.
New York Manufacturing Activity Grows At Faster Rate In March
Thu, 15 Mar 2018 13:45:54 GMT
Business activity in the New York manufacturing sector grew robustly in the month of March, the Federal Reserve Bank of New York revealed in a report on Thursday. The New York Fed said its general business conditions index climbed to 22.5 in March from 13.1 in February.
U.S. Import Prices Rise 0.4% In February, More Than Expected
Thu, 15 Mar 2018 13:36:18 GMT
A report released by the Labor Department on Thursday showed import prices in the U.S. increased by more than expected in the month of February. The Labor Department said import prices rose by 0.4 percent in February after climbing by a revised 0.8 percent in January.
U.S. Weekly Jobless Claims Edge Modestly Lower
Thu, 15 Mar 2018 13:22:45 GMT
First-time claims for unemployment benefits in the U.S. edged lower in the week ended March 10th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims dipped to 226,000, a decrease of 4,000 from the previous week's revised level of 230,000.
Swiss Central Bank Keeps Negative Rates Unchanged; Cautious On Housing Market
Thu, 15 Mar 2018 12:16:00 GMT
The Swiss National Bank kept its expansionary monetary policy unchanged at the first rate-setting meeting of the year, and reiterated its stance on foreign exchange market intervention. The bank also warned about the correction in the housing market over the medium-term. The interest rate on sight deposits at the SNB was retained at -0.75 percent.
Cryptocurrency Daily Roundup - Mar. 15
Thu, 15 Mar 2018 11:21:11 GMT
Bitcoin kept falling Thursday morning as sentiment remained hurt by increased concerns over regulation and a ban by Google on cryptocurrency ads. Adding to the gloom was an assessment by the investment arm of a leading insurer that Bitcoin was a bubble just about to burst, while blockchain held promise for the financial system.
Slovenia Claims World's First Blockchain Monument
Thu, 15 Mar 2018 10:03:50 GMT
Kranj, a picturesque alpine town in Slovenia, has erected the world's first monument to commemorate blockchain, which the country hopes would signal its openness to digitization and innovative technology. The Blockchain monument is placed on a roundabout connecting two streets to symbolize decentralized connections, the City Municipality of Kranj said in a website dedicated to the monument.
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